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Monday, 16 July 2012

Was The Market Closed This Morning?

I couldn't find a trade this morning, London time. The NY stock market just opened as I'm writing this. The range in the DAX has been only about 34 points. Friday was about 140 points.

I finally got a trade. The DAX was in a downtrend, although the bar chart looked sideways. It would only be a matter of time and it would break down. And it did. I covered at the oversold bigCCI. Just after I did, Flo took a short and covered at her 5 point target. Ching, ching. I'm now looking at putting on an option trade. Have a look at the option blog tomorrow and I'll report what I did if I get filled.

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NinjaTrader

Kinetick

About the Electronic Local

I have written this day trading blog since October 2009 when I started teach one of my daughters how to trade. I have recently released an eBook: Trading Order Flow in a Market Profile Context that shows my trading methodology using the latest technology.
I have also been involved in alogrithmic trading since the 1980s when I met both Bob Pardo and David Aronson, two of the most historically influential people in retail algo trading. I taught a course on algo trading a few years ago and have now re-invented how I create and trade algos with the latest technology incorporating order flow.

I have enough money to last me the rest of my life unless i buy something - Rodney Dangerfield

I'm teaching my youngest daughter to trade. She's a 25-year old IT professional who came to me a couple of months ago and said, "Dad, I want to learn to trade. I’m tired of working so hard making other people lots of money. Do you think I can do what you do?".

I've been a successful trader for over 30 years, yet I’ve always discouraged my kids from becoming traders. It's a hard way to make a consistent living unless you have strong discipline and focus. Then I thought, she has a career to fall back on if she doesn’t succeed, which often happens. Plus she was very insistent, (a good trait for a trader) so I said OK.

Was this a weak moment of a dad being wrapped around a daughter's finger?

Will I fail?

Will she fail?

So this blog will be our trading journey and journal. The good, bad and everything in between.

I'll start by posting a huge amount of trading and background information. So if you're following this blog start with the oldest posts.

As things get moving, I'll be adding questions, answers and comments. Twitter will provide Tweets of trading information and I'll even try videos to get the difficult trading concepts and ideas across.

We should end up with an all in one reference and "how to" of my trading methodology.

Tom

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